REUTERS - India's third-largest software services exporter Wipro posted an 8.5 percent drop in third-quarter net profit on Friday, hurt by higher costs.
Net profit fell to 19.31 billion rupees ($303 million) in the three months to Dec. 31, from 21.10 billion rupees a year earlier, Wipro said on Friday. (http://bit.ly/2rjwAnr)
The average forecast from analysts was for profit of 21.58 billion rupees, Thomson Reuters data showed.
Revenue from Wipro's IT services segment rose marginally to 132.35 billion rupees.
($1 = 63.7575 Indian rupees)
(Reporting by Tanvi Mehta in Bengaluru; Editing by David Goodman)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app